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Get Rid of Those Receivables! - Our Trucking Factoring Companies Can Give
Your Trucking Company The Money You Need

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trucking invoice factoring companies

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Factoring invoices is beneficial for numerous reasons. It permits a trucking company to raise cash without acquiring brand-new debt. While financial obligation is sometimes required, the majority of trucking companies would like to raise money without obtaining cash. Financial obligation is dangerous, and when it can not be paid back, possessions can be repossessed. If the debt is large enough, it might even require a trucking firms out of business.

 

 

 

 

 

 

 

How To Get Rich With - Select A Trucking�Factoring Company  Instead Of A Typical Bank Financing

Exactly how to Increase Money Flow Without Loaning -Cash Money flow is among the main reasons businesses fail.

At one time or another, every business, even effective ones, have experienced bad money flow.

Cash flow does not have to be an issue any more. Do not be deceived -- banks are not the only locations you can get funding. Other solutions are offered and you do not have to borrow money. What is truck factoring ? One solution is called trucking factoring. Truck Factoring is the procedure of selling accounts receivable to an investor instead of waiting to collect the cash from the customer. Oh, the Irony- Truck factoring has an ironic distinction: It is the financial backbone of numerous of America's most successful businesses. Why is this paradoxical ? Since staffing factoring is not instructed in business colleges, is seldom discussed in business plans and is fairly unidentified to bulk of most of American company people.

Yet it is a financial process that frees billions of dollars every year, enabling thousands of companies to grow and succeed. Staffing Factoring has been around for countless years. Receivable Funding Companies are investors who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your client has actually to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a big portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Utilizing the purest definition of the word, these big consumer finance companies are really simply large Receivable Loan Funding Companies of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid practically immediately, even though you do not pay up until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal charges vary from 2 to 4 percent of the sale). The Benefits Invoice Factoring can provide many advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually already been delivered, a business can factor (sell) its receivables for money at a little price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be met with instant  cash.

Accounts Receivable Factoring offers the ways for a producer to renew stock and make more products to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not simply a money management tool for manufacturers: Practically any kind business can take advantage of Accounts Receivable Factoring. Typically, a company that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, but you can sell that invoice for the money to meet those obligations. Using trucking factoring companies is a quick and simple process. The factor purchases the invoice at a price cut, typically a few percentage points less than the face value of the invoice.

 

 

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The American Transportation Association
states that there around
205,000 employees with truck
companies and
300,000 personal providers trucking
companies certified to
run in the U.S. that carried,
according to their latest data of millions
items, supplies and
fundamental products .
There are several common
carriers either going solo or in
groups on our country
roads transferring these
crucial products to our
shops, manufacturing facilities and harbors.

Furthermore freight factoring
corporations support
several of them and offer their
factoring services
nationallycounting
including the following states.

: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming

 

Washington has a growing, diversified economy with an increasing percentage of professional and business service jobs. The gross state product of the District in 2010 was $103.3 billion, which would rank it No. 34 compared to the 50 U.S. states. The gross product of the Washington Metropolitan Area was $425 billion in 2010, making it the fourth-largest metropolitan economy in the United States. As of June 2011, the Washington Metropolitan Area had an unemployment rate of 6.2%; the second-lowest rate among the 49 largest metro areas in the nation. The District of Columbia itself had an unemployment rate of 9.8% during the same time period.A wide, one story red brick building with a sloping black roof behind numerous white-topped tents selling assorted wares. Eastern Market on Capitol Hill houses food vendors and artisan stalls.In 2012, the federal government accounted for about 29% of the jobs in Washington, D.C. This is thought to immunize Washington to national economic downturns because the federal government continues operations even during recessions. Many organizations such as law firms, independent contractors (both defense and civilian), non-profit organizations, lobbying firms, trade unions, industry trade gro, and professional associations have their headquarters in or near D.C. to be close to the federal government.Tourism is Washington's second largest industry. Approximately 18.9 million visitors contributed an estimated $4.8 billion to the local economy in 2012. The District also hosts nearly 200 foreign embassies and international organizations such as the World Bank,five non-government-related employers in the city as of 2009. According to statistics compiled in 2011, four of the largest 500 companies in the country were headquartered in the District

 

 

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Receivable loan company Calculator
This calculator will show you how much you will make by using our receivable loan company . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our receivable loan company
Enter the principal balance of your receivable loan company
(call your receivable loan company lender and ask for the current payoff amount):
Enter the amount of your monthly receivable loan company payment:
(invoice amount):
Enter the your receivable loan company's current interest rate:

EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

Click below to find Trucking Companies in the United States:

Trucking Companies serving to/from points within the United States,
categorized by services offered. United States Trucking
Companies will be listed under all categories in which they provide specified Trucking Services.
To find companies offering specific Trucking Services in the United States, click on the list of services below.

EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

 

"

Since the mid 1980s Brooks Truck & Haul have been successfully running their freight business. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Brooks Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Brooks had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Alfredo Wheeler, CEO of Brooks felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Brooks hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Alfredo Wheeler to have some very restless nights. Alfredo was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. After work he would confide in his wife, Marshaerly, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Alfredo would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Alfredo. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Alfredo knew very well that Marshaerly was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Alfredo walked into his office with a spring in his step, determined to call each and every client who owed money to Brooks Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Alfredo knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Alfredo knew that he was in trouble.

 

After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Marshaerley knocked at his door.

 

""Alfredo, can I have a word?"" she asked standing in the doorway.

 

""Of course Marsha, please come in."" Alfredo leaned back in his chair and looked expectantly at Marshaerely.""Well Alfredo, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" Marshaerley asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Alfredo interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Alfredo said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Alfredo studied the documents very closely.""It sounds too good to be true, Marsha,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Alfredo,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Alfredo.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Alfredo took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Brooks. They did not want to throw away these relationships because they were having trouble paying their bills now. Alfredo knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Marsha, and thankyou."" Marsha stood up and left Alfredo's office, with the nice feeling of knowing that she may just have solved a very serious problem.Alfredo stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Brooks Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. Alfredo was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Alfredo was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Alfredo about this,"" muttered Alfredo to himself.Alfredo's son-in-law, Alfredo, loved the idea behind Brooks and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. Alfredo knew then what struggles Alfredo would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Brooks was hurting, a little guy like Alfredo was about to catch his death. But, an antidote may have been found in freight factoring and Alfredo was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Alfredo found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Alfredo recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Alfredo hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Washington has a growing, diversified economy with an increasing percentage of professional and business service jobs. The gross state product of the District in 2010 was $103.3 billion, which would rank it No. 34 compared to the 50 U.S. states. The gross product of the Washington Metropolitan Area was $425 billion in 2010, making it the fourth-largest metropolitan economy in the United States. As of June 2011, the Washington Metropolitan Area had an unemployment rate of 6.2%; the second-lowest rate among the 49 largest metro areas in the nation. The District of Columbia itself had an unemployment rate of 9.8% during the same time period.A wide, one story red brick building with a sloping black roof behind numerous white-topped tents selling assorted wares. Eastern Market on Capitol Hill houses food vendors and artisan stalls.In 2012, the federal government accounted for about 29% of the jobs in Washington, D.C. This is thought to immunize Washington to national economic downturns because the federal government continues operations even during recessions. Many organizations such as law firms, independent contractors (both defense and civilian), non-profit organizations, lobbying firms, trade unions, industry trade gro, and professional associations have their headquarters in or near D.C. to be close to the federal government.Tourism is Washington's second largest industry. Approximately 18.9 million visitors contributed an estimated $4.8 billion to the local economy in 2012. The District also hosts nearly 200 foreign embassies and international organizations such as the World Bank,five non-government-related employers in the city as of 2009. According to statistics compiled in 2011, four of the largest 500 companies in the country were headquartered in the District

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Jared Little just sat there letting it ring. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Little Trucking Company was at a turning point of growth and Jared had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Jared's father had started this business working as an owner-operator and eventually growing Little Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Jared's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Jared's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Little Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Little Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Jared chuckled, thinking about his father. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Jared knew he was right in his forward thinking. What would be the next step for Little Trucking? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Jared had to really consider what his next step was going to be. Jared had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Jared because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Little Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Jared stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Jared could actually expand Little Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� Carlos Ferguson asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Carlos Ferguson owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Nathaniel. He named his business Ford Trucking, named after Mathew and Arnold, his two grandfathers. Both of these men had been very hardworking and had set a great example for Nathaniel.Disaster had struck half a year ago, when two trucks in Nathaniel�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Carlos depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Carlos had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Carlos wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Erika and she worked for a factoring company. Carlos had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.Erika explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Carlos agreed. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Erika nodded. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Erika with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Carlos completed the form, with Erika offering advice as needed.

 

The completed profile gave Erika and her company all the information they needed on Nathaniel's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Carlos completed his form, Erika listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Erika took it and slid it into her briefcase. She then stood, reached across the desk and shook Nathaniel�s hand. He also stood up, and they smiled at each other. Carlos walked Erika to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Erika and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Carlos couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Ford Trucking. And that's exactly what he did. Once again he built a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Nathaniel's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The key reasons why Truck Companies Employ Factoring Companies.

 

As the operator of your own business enterprise, you may likely be much more than knowledgeable already of the challenge in making certain that cash flow issues do not become a difficulty down the line. After all, the most horrible thing that can potentially happen for your establishment is to find yourself swept up in a long and challenging condition that leaves you forever trying to find the resources you are in need of on an recurring basis.

 

For any sort of firm in this circumstance, the issue can come for waiting for work to lapse and actually be repaid into your statement. Bill of sales, checks, and the like could take a long time to actually to beprocessed which may leave you with short-term capital troubles. Thank goodness, there are options out there for businesses to check out-- and one of these is factoring providers.

 

Factoring companies will, in substitution for your bill of sales, offer you with the resources today in order that you do not have to fret about the lingering period that could make paying out the expenses and obtaining toolsmore difficult. With this type of arrangement, invoice factoring can become extraordinarily useful for various enterprises who have to avoid a cash trap which they have found themselves in.

 

For the reason that, basing on the scale of the job, it can take up to 60 days for many enterprises to get paid then it is significant to cover your own back and certainly not leave yourself cash short to pay the bills. After all, how many business enterprises possess two months cash flow just occupying there to address all their bills until they get paid?

 

This is particularly true of trucking enterprises. They have the tendency to deal with lots of invoices which means a serious quantity of collection time concerns company owner themselves. Attempting to get compensated promptly can turn into an incredible headache and this is why you utilize trucking factoring firms who are thrilled to help out truckers exclusively.

 

As all of us know, trucking is an astonishingly large field with a lot of organizations out there hiring hundreds of drivers. Regretfully, plenty of these drivers end up in finances issues given that they are still waiting on work from six weeks previously to actually compensate them. When this is the situation for a trucking agency, depending on factoring agencies for aid might be the finest option left.

 

This signifies that a truck company can provide the paychecks of the workers, keep all the vehicles loaded with fuel and continue to scale, grow and expand without always waiting for the money which is taking too long to come in. Trucking Establishments functioning without a factoring system applied are leaving themselves at substantial danger, as competitions cash out quickly and proceed to broaden.

 

There's honestly nothing at all to be worried about when it comes to using a Factoring business-- they commonly are not like a financial institution or a person who is going to leave you with a large mass of financial debt to pay back. You give them genuine invoices from job you have already accomplished , you are merely facilitating the repayment process.

 

In the United States, where trucking agencies prosper, factoring firms are not considered accepting loan of in any capacity. This confidential settlement then permits both groups to benefit and enjoy a worry-free future-- it gives the factoring agency a guaranteed resource of revenue to put into the list and it gives the trucking business the needed funds that they sweated to generate.

 

The trucking establishment provides their statements to the factoring agency. The trucking factoring business then receive the installment payments from the trucking company's customers. Factoring has been in existence for hundreds of years and has been used for long times by a lot of diverse industries-- but none much more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it signifies that you are getting the money today and can actually begin setting the cash to do work.

 

After all, an IOU or an invoice is absolutely not going to pay for expenses, is it? For trucking agencies when the resources can be really good one day and gone the next, it is up to the drivers to work sensibly and to guarantee they are leaving themselves with a significant amount of time and money to get through the week till they are paid once again.

 

So the next instance your trucking business is enduring some momentary cash flow issues and you are shelling out a bit too much time chasing inactive paying clienteles, why not start off thinking about employing a factoring businesses as a manner to get your cash and give yourself a more worry-free future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

Not every business can benefit from Trucking Factoring account financing because you have to have a business with accounts receivable, however there are many benefits for those who can access this type of finance.

 

1. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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